MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Reduces Stock Position in Knife River Corporation $KNF

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. reduced its stake in Knife River Corporation by 2.8%, holding approximately 0.72% of the company with 409,410 shares valued at $36.93 million.
• Analysts have a generally "Buy" rating for Knife River, with average price targets ranging from $97.00 to $129.00, indicating potential growth.
• Knife River reported earnings of $0.89 per share, missing the consensus estimate, with revenues of $833.80 million for the most recent quarter.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. reduced its stake in shares of Knife River Corporation (NYSE:KNF - Free Report) by 2.8% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 409,410 shares of the company's stock after selling 11,645 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned approximately 0.72% of Knife River worth $36,933,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of KNF. Opal Wealth Advisors LLC acquired a new stake in Knife River during the first quarter worth about $26,000. Brooklyn Investment Group raised its holdings in Knife River by 31,200.0% in the 1st quarter. Brooklyn Investment Group now owns 313 shares of the company's stock worth $28,000 after purchasing an additional 312 shares during the period. Versant Capital Management Inc raised its holdings in Knife River by 501.9% in the 1st quarter. Versant Capital Management Inc now owns 325 shares of the company's stock worth $29,000 after purchasing an additional 271 shares during the period. State of Wyoming acquired a new position in Knife River in the 4th quarter worth about $30,000. Finally, Migdal Insurance & Financial Holdings Ltd. acquired a new position in Knife River in the 1st quarter worth about $35,000. 80.11% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

KNF has been the topic of several research analyst reports. Wells Fargo & Company lifted their price objective on Knife River from $96.00 to $97.00 and gave the stock an "overweight" rating in a report on Monday, August 11th. Royal Bank Of Canada initiated coverage on shares of Knife River in a report on Monday, June 16th. They issued an "outperform" rating and a $129.00 price objective for the company. Finally, DA Davidson cut their price target on Knife River from $125.00 to $120.00 and set a "buy" rating for the company in a report on Tuesday, June 10th. Six investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and an average price target of $114.33.

Knife River Stock Performance

NYSE:KNF opened at $80.29 on Friday. The company has a debt-to-equity ratio of 0.92, a current ratio of 2.78 and a quick ratio of 1.57. The firm has a market capitalization of $4.55 billion, a price-to-earnings ratio of 29.85, a PEG ratio of 5.86 and a beta of 0.62. The company's 50-day moving average is $83.49 and its two-hundred day moving average is $88.65. Knife River Corporation has a 1-year low of $73.91 and a 1-year high of $108.83.

Knife River (NYSE:KNF - Get Free Report) last posted its earnings results on Tuesday, August 5th. The company reported $0.89 earnings per share for the quarter, missing the consensus estimate of $1.27 by ($0.38). The firm had revenue of $833.80 million during the quarter, compared to analyst estimates of $902.26 million. Knife River had a net margin of 5.20% and a return on equity of 10.58%. The business's revenue for the quarter was up 3.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.37 earnings per share. Knife River has set its FY 2025 guidance at EPS. Analysts forecast that Knife River Corporation will post 4.11 EPS for the current year.

Knife River Company Profile

Knife River Corporation, together with its subsidiaries, provides aggregates- led construction materials and contracting services in the United States. It operates through Pacific, Northwest, Mountain, Central, and Energy Services segments. The company mines, processes, and sells construction aggregates, including crushed stone and sand, and gravel; and produces and sells asphalt and ready-mix concrete.

Want to see what other hedge funds are holding KNF? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Knife River Corporation (NYSE:KNF - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.